There’s absolutely no doubt that YouTube is the go-to platform for many video lovers. The Google-owned video platform has a monthly global user base of 2 billion, making it just one step behind social media giant Facebook, whose monthly active user number stands at 2.6 billion. Much of YouTube’s popularity comes from the fact that online videos are buzzing these days.
For 78.8 percent of marketers, YouTube has emerged as the most effective platform for video marketing. Also, YouTube makes up 27.1 percent of video advertising spending. The video marketing trend is not slowing down anytime soon, and YouTube continues to have a strong foothold in the realm by constantly upgrading the platform with new features and options.
Enter shoppable product ads
Today, video marketers can find a brand new e-commerce advertising format on YouTube—shoppable ads. YouTube video ads are now more “shoppable” with the introduction of a new way of browsing products. The platform has added product images below the video ad to direct traffic straight to the product pages of brands.
The new format, Video Action Campaigns, enters the video advertising scenario during a phase when video marketers and advertisers are striving to devise new ways to capitalize on the increasing interest of consumers in e-commerce. This is particularly true in the present context of the COVID-19 pandemic, which has kept people indoors and away from brick-and-mortar stores for months now.
How to use the shoppable format?
To use the latest shoppable ad format on YouTube, brand marketers have to synchronize their video ads and their Google Merchant Center feed. After that, they can visually increase the “call to action” option of an ad with the highest-selling products that they wish to showcase in the ad.
Video Action Campaigns follow an automated process of distributing video ad campaigns that seek to initiate consumer action to YouTube’s home feed, Google video partners, and watch pages. Everything comes in a single advertising campaign. To even simplify further, the platform will add future inventories—like “What to Watch Next.” This would greatly help advertisers to save ample time and focus on the creation of meaningful, creative ad campaigns.
The new format will narrow down targeting options, but it will make it easier for advertisers to maximize the reach of their campaigns. At the same time, Google is also planning to add YouTube to its ads attribution reports. This will offer deeper insight into how marketers should be allocating their advertising budget to reap the best results across the platform’s various options.
Through Video Action Campaigns, brands can also make use of lead-generation forms in their video ads to reach out to more leads. The platform is of the strong opinion that online and offline businesses will need these kinds of solutions to capture more leads, increase their traffic, and close more sales. The new ad format is all poised to make the process more transparent and take the efforts of video advertisers a notch higher. It will provide marketers with a cost-effective and simple-to-use method of driving more lead conversions across the massive and evolving video platform.
The lockdown imposed due to the coronavirus pandemic has caused e-commerce to surge extensively. Many surmise that this trend is likely to stay, thereby shifting the collective consumer behavior towards online shopping. This would unravel innumerable opportunities for brand marketers, especially when the video is pretty much the in-thing these days. In-stream shopping options on Facebook and Instagram are also a way to capture the interest of shoppers who are habituated to shop online. However, we can only hope that YouTube’s new shoppable product ads format is able to serve its purpose and is able to create a win-win situation for both brand marketers and consumers.